Done Deals: JLL Capital Markets arranges $5 million refinancing for Phoenix retail center

Tuesday, March 12, 2024

JLL Capital Markets arranges $5 million refinancing for Phoenix retail center

Camelback East Shops, a 25,129-SF
neighborhood retail center in Phoenix, AZ

DENVER, CO –  JLL Capital Markets has arranged a $5.3 million refinancing for Camelback East Shops, a 25,129-square-foot neighborhood retail center in Phoenix, Arizona.

Located on the southeast corner of 32nd St. and Camelback Rd., Camelback East Shops is leased to a diverse roster of tenants including popular local restaurants, Tarbell’s and First Watch, along with long-standing retailers like Van’s Golf Shops.

Allan Okabe

The MDC Realty Advisors team was led by one of its principals, Allan Okabe, who remarked, “32nd Street and Camelback has been a core, stable asset for MDC since we acquired it over 10 years ago.

"This high-profile corner within the Camelback Corridor of Phoenix, AZ provides our tenants with high-level exposure and instant recognition throughout the region.

Will Haass

"We are excited about the opportunity to upgrade and re-tenant this unique asset and wish to thank JLL for their efforts in completing this refinancing.”

The JLL Capital Markets team was led by Director Will Haass and Executive Managing Director Eric Tupler.

Eric Tupler

“MDC has had this gem of a retail asset in their portfolio for several years and done a phenomenal job positioning it in the submarket,” said Haass. “We look forward to their continued success bringing new concepts into the center and the greater community.”

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